Redefine International Plc. JSE: RPL

Background of Redefine International

Redefine International is a Real Estate Investment Trust (REIT) and the international arm of South Africa-based company Redefine Properties, with headquarters in the United Kingdom.

The company’s history can be traced back to 2002 with the establishment of the Corovest International Property Fund. Today, Redefine International shares have a primary listing on the London Stock Exchange, and the company is part of the FTSE 250 Index. The company also has a secondary listing on the Johannesburg Stock Exchange (JSE).

The group’s portfolio includes wholly-owned dominant district shopping centres, retail parks, hotels and commercial properties across England, with a presence in Scotland and Germany too. The portfolio comprises 175 assets valued at approximately £1.5 billion. Redefine International share price has fallen steadily on the JSE of late.

Redefine International Shares Growth Driver

Redefine International’s portfolio is weighted towards well-located properties across a range of asset classes, targeting high-calibre tenants on long leases. Investment is focused on large, well-developed economies with liquid and transparent real estate markets. In line with this strategy, Redefine exited the Australian and Swiss markets in 2015 by putting properties there up for sale, deciding to focus on the core markets of the UK and Germany. Bolstering this strategy, the company went on to buy the Aegon portfolio – which comprises 19 properties in retail and office – for £490 million. This took overall asset value to over £1.5 billion and has resulted in improved performance and growth prospects for the group.

The group’s latest financial data, covering the first six months of the 2016 financial year, showed an increase in net rental income from £35.2 million to £41.9 million, with distributable earnings increasing from £21.4 million to £25.4 million. Net asset value per share however decreased by 1.9%, largely due to acquisition costs associated with the Aegon portfolio purchase.

In the retail sector, the occupational market is improving and the group will cater to the tenant demand for discount, convenience and leisure facilities. Selective reconfigurations and expansions are another focus area, along with optimising existing space with commercialisation. The hotel sector in the UK has a positive outlook, with average occupancy rates expected to increase, whilst the office sector shows good potential for rental growth. There is a favourable economic outlook for Germany, with Redefine International set to benefit from lower interest rates.

Redefine International Group Investor Tip

Redefine International share price has taken a significant dip recently, despite the group boasting a high-quality, segmented portfolio and an efficient capital structure. The live online stocks chart shows that Redefine International shares have dropped from R11.90 on the JSE at the end of 2015, to R7.90 by October 2016. With all of the group’s underlying fundamentals looking strong, investment analysts forecast that Redefine International shares will outperform the market. The shares are therefore regarded as undervalued, making them a solid buy for investors, with good potential for upside growth.

Redefine International Major Shareholders

Redefine Properties, Allan Gray Unit Trust Management.

Sector

Financials

Industry

Real Estate

Sub industry

REIT

How to buy Redefine International Group Shares

Redefine International : How to buy Redefine International Group Shares Online

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